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Cyprotex (COTXF.PK): 2009 Interim Results



8/12/2009 10:59:05 AM

Cyprotex PLC (LSE:CRX), the drug discovery technology and information company (“Cyprotex” or “the Company” or “the Group”), today reports its Interim results for the half year to 30 June 2009.

Financial Highlights

• Revenues up 9% to £2.45m (H1 2008: £2.25m)

• Net profit up to £157,000 (H1 2008: profit £56,000)

• Cash and cash equivalents at 30 June £1.72m (H1 2008: £276,000)

• Fully diluted EPS increased to 0.09p (H1 2008: 0.04p)

Operational Highlights

• Expansion of commercial activities

o Continuing to successfully service our largest customer

o Three customers developed to strategic partner level

o Two new Cloe®Select assays launched

o Launch of Cloe®Gateway secure portal

o ‘Pay per use’ access via Cloe®Gateway of Cloe®PKv2.1 and Cloe®HIA predictive software

o Acquisition of an AB Sciex QTRAP®5500 LC-MS/MS mass spectrometer allowing significant expansion of metabolite id offering

o New specialist laboratory fit out and operational

o Targeting new markets: agrichemical, neutraceutical and cosmetic industries

• Key management hires

o John Dootson, Chief Financial Officer

o Simon Bury, Chief Commercial Officer

o European based ADME expert consultant

o New European Business Development Manager

Commenting on the results, Steve Harris, Chairman of Cyprotex PLC, said: “With the new management changes now in place, the Company has performed well in the first half of 2009, consolidating revenue the gains and profitability of 2008. In the face of a challenging market for the CRO industry, our investments in additional products and services are beginning to bear fruit with the generation of significant revenues and new customers and we will continue to drive this momentum forward into 2010.”

Read at BioSpace.com


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